Shared by
mirko_BOWS
Went short on the flag breakout and then got stopped out on the bounce at a penny.
I guess I was in a bit early but it seemed a great setup at the time and later on it did crack as I expected so I am at least pleased I was thinking right.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-03-25 11:13:05 | SAVE | sell | $62.300 | short |
| 2014-03-25 11:13:05 | SAVE | sell | $62.300 | short |
| 2014-03-25 11:13:05 | SAVE | sell | $62.300 | short |
| 2014-03-25 11:24:43 | SAVE | buy | $62.646 | short |
| 2014-03-25 11:24:43 | SAVE | buy | $62.646 | 0 |
Comments
mirko_BOWS
iStryker_BOWS
Yep what Nape charted, stop 62.81.
I hate hitting shorts at the flush point, especially when your stop price is so far away. So you max lost was/should've been 272x.50 = $140ish, which I don't know if thats too much for you.
To me you hit it right, it should've flushed right there. Stock broke the 9ema, Stock had little volume to push it higher. I would've hit it with 200 shares, so my max lost would've been $100. If I got stopped out I would've hit it it again 15 minutes later at the same point, or added another 100-200 to my position (setup was there to increase my max lost). Stock confirmed that it was a bear flag and was really going to flush this time (unable to make newer high, tap and fail of 20ema, fail of 9ema, even lower volume than 15 minutes earlier, approaching lunch time)
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Covered right at price resistance http://screencast.com/t/xkboMMFQ6j2.. Idea stop was $62.80.